Not Even a Slap on the Hand — with Mulvaney in Charge — #YOYO

“In Nevada alone, 1.3 million people were impacted by @Equifax’s egregious data breach. Today, Mick Mulvaney turned his back on 145 million Americans who had their data stolen, & chose to protect Equifax instead. @CFPB needs a leader who will protect consumers, not negligent financial firms.”  — Senator Catherine Cortez Masto According to Reuters, Mick Mulvaney, …

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Dodd-Frank Rollback Bill Could Result in Financial Disaster … AGAIN!

Today, at the only scheduled committee hearing to review Chairman Hensarling’s Wrong Choice Act 2.0, a bill that would destroy the most important parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: There is only one …

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‘Spectacular Betrayal’ as Trump Hands Economy ‘Back Over to Wall Street’

‘The Wall Street bankers against whom Trump ran are making policy now,’ says Public Citizen — by Deirdre Fulton, staff writer at Common Dreams President Donald Trump is handing the U.S. economy “back over to Wall Street” on Friday, with a regulatory rollback that critics say could put consumers and the financial system at risk. …

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Snapshot of Older Consumers and Student Loan Debt

The number of consumers age 60 and older with student loan debt has quadrupled over the last decade in the United States, and the average amount they owe has also dramatically increased.  This trend is not only the result of borrowers carrying student debt later into life, but also the growing number of older consumers …

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CFPB Actions Against Reverse Mortgage Lenders

— by Stacy Canam. Office for Older Americans, CFPB Last week the Consumer Financial Protection Bureau (CFPB) took action against three reverse mortgage companies for deceptive advertisements, including claiming that consumers could not lose their homes. The CFPB is ordering American Advisors Group, Reverse Mortgage Solutions, and Aegean Financial to cease deceptive advertising practices, implement …

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Cracking Down on Abusive Debt Collectors

The Consumer Financial Protection Bureau must stop this national crisis. — by LeeAnn Hall Have you ever picked up your phone to find an aggressive voice on the other end demanding payments on a debt you know nothing about? You’re far from alone. Once you’re in the sights of a debt collector, the impact on …

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If This is What it Means to be “Conservative” — I’m Proudly a Bleeding Heart Liberal

Clearly, members of the GOP in the House are all about looking for ways to handicap ANY organization tasked with performing regulatory actions that might impede their ideological plans for the future of the United States of Republica.  A case in point is this recent  press release from Representative Amodei’s office.  My comments are in …

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The President’s Housing Plan–What You Need to Know

President Obama took Wednesday morning to answer your questions on housing during an online interview, and it’s worth a watch. It’s part of his push for a more secure foundation for middle-class home ownership. We want to make sure you’ve got the facts about President Obama’s plan, and the resources that are already available for …

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Everything You Need To Know About The ‘Nuclear Option’ And Harry Reid’s Plan To Fix The Senate

By Ian Millhiser On Thursday, Senate Majority Leader Harry Reid (D-NV) took the first step to invoking the so-called “nuclear option,” a Senate procedure that will allow a majority of the Senate to effectively change its rules to limit widespread obstructionism by the minority. As the trigger for this reform involves seven executive branch nominees …

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Coincidence or Corruption?

  The central mission of the Consumer Financial Protection Bureau (CFPB) is to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.  The CFPB’s goal is to ensure consumers get the information …

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